Adani Gas shares down 0.31% as Sensex falls

Shares of Ltd. fell 0.31 per cent to Rs 3176.45 in Monday’s session as of 11:21AM (IST) even as the equity benchmark Sensex traded 633.47 points lower at 57557.82.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3816.3 and a 52-week low of Rs 1345.0 on NSE. Around 5947 shares changed hands on the counter till 11:21AM (IST).

The stock opened at Rs 3168.0 and has touched an intraday high and low of Rs 3186.35 and Rs 3115.25 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 693.68, earnings per share (EPS) of Rs 4.59 and price to book value (PB) of 97.81, while the return on equity (ROE) stood at Rs 21.08.

Promoter/ FII Holding
The promoters held 74.8 per cent stake in the company as of October 10, while FII and MF ownerships stood at 17.55 per cent and 0.03 per cent, respectively.

Key Financials

With a market capitalisation of Rs 350437.99 crore, the company operates in the Gas Distribution industry. For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 1051.46 crore, up 2.86 per cent from the previous quarter?s Rs 1022.2 crore and up 109.22 per cent from the same quarter a year ago. The company reported net profit of Rs 138.37 crore for the latest quarter, down 2.95 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 39.63. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a “buy” or “sell” recommendation using a single valuation ratio.

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